M/S. HYUNDAI MOTOR INDIA LTD.,KANCHIPURAM vs. PCIT-4, , CHENNAI

In the result, the appeal of the assessee is allowed

Bench: Shri Manu Kumar Giri & Shri S. R. Raghunatha

depreciation after reducing the incentive proportionately from the block of assets is grossly erroneous and the Ld.PCIT has failed to consider the nature of the subsidy and the relevant jurisprudence supporting the assessee’s claim in this connection. 36. The ld.AR also drew our attention to the decision of the this Tribunal to the treatment of the same incentive